Commercial Fishing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 6/24/2024
SIC Codes: 0912, 0913, 0919
NAICS Codes: 11411
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Commercial Fishing Industry Profile

Companies in this industry catch wild finfish, shellfish, and other marine products from their natural habitats. Major companies include Cooke Aquaculture (Canada), Maruha Nichiro and Nippon Suisan Kaisha (both based in Japan), and Trident Seafood (the US). Large commercial fishing companies tend to be vertically integrated, encompassing fishing, freezing, and processing operations; smaller companies may have fishing operations only.

The global seafood market is forecast to reach about $350 billion by 2027, according to Statista. The European Union was the top exporter of fish and seafood products worldwide in 2022, at $1.12 billion, followed by Canada, accounting for $1.09 billion.

The US commercial fishing industry includes about 2,400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $5 billion.

Seafood processing and distribution and aquaculture (fish farming) are covered in separate industry profiles.


Demand is driven by trends in fish consumption. The profitability of individual companies depends on maximizing yield without depleting stocks. Industrial fisheries have advantages in fleet size and access to experienced crew members. Small-scale and “artisan” fisheries can compete effectively by serving a local market or by specializing in ultra-fresh fish. The US industry is highly fragmented: more than 90% of companies operate a single establishment and have four or fewer employees.


Major marine and freshwater products include finfish (50%) and shellfish and other (50%).

Commercial fishers rely on a wide range of gear ...

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